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Right angle = money

It is 1:00 am on April 9th. How much money would you make in the next 48 hours if you made 8 dollars every time the hands of a clock formed a 90 degree angle?

A note on the source

This problem was taken from the Ole Miss Math Contest, which was hosted by Dr. David Rock of The University of Mississippi; the contest has not been so active recently and will probably be on hiatus for the foreseeable future. This problem was taken from the 'Middle School Madness' Challenge Mode section.